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CarParts.com (PRTS) Gains As Market Dips: What You Should Know
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CarParts.com (PRTS - Free Report) closed at $6.42 in the latest trading session, marking a +0.63% move from the prior day. This move outpaced the S&P 500's daily loss of 0.16%. Elsewhere, the Dow lost 0.26%, while the tech-heavy Nasdaq added 1.58%.
Prior to today's trading, shares of the online auto parts retailer had lost 9.38% over the past month. This has lagged the Auto-Tires-Trucks sector's gain of 18.85% and the S&P 500's gain of 0.84% in that time.
CarParts.com will be looking to display strength as it nears its next earnings release, which is expected to be March 7, 2023. On that day, CarParts.com is projected to report earnings of -$0.13 per share, which would represent a year-over-year decline of 30%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $152.4 million, up 10.23% from the year-ago period.
Investors should also note any recent changes to analyst estimates for CarParts.com. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. CarParts.com is currently a Zacks Rank #3 (Hold).
The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 180, putting it in the bottom 29% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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CarParts.com (PRTS) Gains As Market Dips: What You Should Know
CarParts.com (PRTS - Free Report) closed at $6.42 in the latest trading session, marking a +0.63% move from the prior day. This move outpaced the S&P 500's daily loss of 0.16%. Elsewhere, the Dow lost 0.26%, while the tech-heavy Nasdaq added 1.58%.
Prior to today's trading, shares of the online auto parts retailer had lost 9.38% over the past month. This has lagged the Auto-Tires-Trucks sector's gain of 18.85% and the S&P 500's gain of 0.84% in that time.
CarParts.com will be looking to display strength as it nears its next earnings release, which is expected to be March 7, 2023. On that day, CarParts.com is projected to report earnings of -$0.13 per share, which would represent a year-over-year decline of 30%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $152.4 million, up 10.23% from the year-ago period.
Investors should also note any recent changes to analyst estimates for CarParts.com. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. CarParts.com is currently a Zacks Rank #3 (Hold).
The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 180, putting it in the bottom 29% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.